Draft:Capital on Tap
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Capital on Tap
[edit]Capital on Tap is a British financial technology company that provides financial and spend-management services to small and medium-sized businesses in the United Kingdom and the United States. Founded in London in 2012[1], the company has provided credit to more than 200,000 businesses, which have collectively spent over £10 billion on its cards.[2]
History
[edit]Capital on Tap was founded in London in 2012 by David Luck, together with Jan Farrarons and George Karibian. The company provides online credit facilities to small businesses, with an initial £3 million of backing from three high-net-worth individuals.[1] It initially sold small business loans, launching a credit card product in 2017.[3]
In August 2018 the company secured £140 million of debt funding to accelerate growth: £90 million from M&G Investments and Triple Point, and a further £50 million from Citi and private equity firm Pollen Street Capital. At that point it had raised more than £30 million in equity and £200 million of debt since launching, and had provided more than £500 million in funding to over 40,000 businesses.[4] By December 2019 it had lent more than £1.3 billion to 75,000 UK companies, reported a turnover of £39 million, and had no institutional equity holders.[1] In May 2020, Tim Trailor, previously chief credit officer of Monzo, joined the company as chief risk officer.[5]
Capital on Tap has operated in the United States since March 2021,[6] and opened an office in Atlanta in April 2022. By mid-2022 the Atlanta team had grown to around 50 staff, handling business operations, analysis and customer experience, while finance and development remained in the United Kingdom. The company raised $200 million of private equity funding from Värde Partners and HSBC to support international expansion.[3]
In January 2024 co-founder David Luck became executive chairman and Damian Brychcy, previously chief product officer, was appointed chief executive with immediate effect.[6] In February 2025 the company secured two facilities totalling £750 million: a £550 million master trust facility with BNP Paribas and Citi, described as the first non-bank credit card master trust created in Europe since 2015, and a doubling of its revolving credit facility with Blue Owl Capital from £100 million to £200 million.[7] A third securitisation followed in the third quarter of 2025: a £500 million funding package backed by receivables from the company's business credit card portfolio, which Tech.eu ranked as the second-largest fintech raise in Europe that year.[8]
Recognition
[edit]Capital on Tap was included in the Financial Times' FT 1000 list of Europe's fastest-growing companies in 2021,[9] and ranked 54th in The Sunday Times 100 list of Britain's fastest-growing private companies in 2022, which reported sales of £73.6 million in the preceding year.[10] In 2025 it was ranked fifth in the inaugural Europe's Long-Term Growth Champions list, compiled by Statista in partnership with the Financial Times, with a compound annual growth rate of 88.4% between 2013 and 2023.[11]
- 1 2 3 Tobin, Lucy (2019-12-20). "The business giving small firms £50,000 in five minutes". The Standard. Retrieved 2026-07-18.
- ↑ "Capital on Tap secures £750m in funding facilities to boost UK and US SME lending". FinTech Futures. Retrieved 2026-07-18.
- 1 2 Ehlinger, Maija (30 June 2022). "This London-based startup is "tapping" into Atlanta's fintech scene for US expansion". Hypepotamus.
- ↑ Withers, Iain (12 August 2018). "Capital on Tap gains £140m of funding to boost growth". The Daily Telegraph.
- ↑ Venkataramakrishnan, Siddharth (21 May 2020). "Monzo co-founder steps down as chief executive". Financial Times.
- 1 2 Scammell, Robert (5 January 2024). "SME lender Capital on Tap appoints Damian Brychcy as CEO". UKTN.
- ↑ "Capital on Tap secures £750m in funding facilities to boost UK and US SME lending". FinTech Futures. Retrieved 2026-07-18.
- ↑ Gorzkiewicz, Tomasz (23 April 2026). "Fintech: 10 companies that raised the most in 2025". Tech.eu.
- ↑ Kelly, Maxine (2 March 2021). "FT 1000: the fifth annual list of Europe's fastest-growing companies". Financial Times.
- ↑ "Capital on Tap — Sunday Times 100". The Sunday Times. 1 July 2022.
- ↑ "Europe's Long-Term Growth Champions 2025". Statista. 2025.